11,500 Shares in biote Corp. (NASDAQ:BTMD) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in biote Corp. (NASDAQ:BTMD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,500 shares of the company’s stock, valued at approximately $71,000.

Several other hedge funds have also recently added to or reduced their stakes in BTMD. Wasatch Advisors LP boosted its position in biote by 8.4% during the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock worth $7,772,000 after acquiring an additional 107,792 shares during the last quarter. State Street Corp lifted its stake in shares of biote by 13.7% during the 3rd quarter. State Street Corp now owns 475,491 shares of the company’s stock worth $2,653,000 after purchasing an additional 57,290 shares during the period. Kanen Wealth Management LLC acquired a new stake in shares of biote during the fourth quarter worth $1,791,000. Jacobs Levy Equity Management Inc. grew its position in shares of biote by 24.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock valued at $1,520,000 after purchasing an additional 54,302 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in biote by 19.8% in the fourth quarter. Bank of New York Mellon Corp now owns 105,886 shares of the company’s stock valued at $654,000 after purchasing an additional 17,521 shares during the last quarter. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

biote Stock Performance

Shares of BTMD stock opened at $3.39 on Friday. The firm has a market capitalization of $185.47 million, a price-to-earnings ratio of 13.04 and a beta of 1.07. biote Corp. has a one year low of $3.04 and a one year high of $8.44. The company has a 50 day moving average price of $4.58 and a 200 day moving average price of $5.39.

Wall Street Analyst Weigh In

Separately, Craig Hallum lowered their price target on biote from $12.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 13th.

Insider Activity

In other biote news, major shareholder Guines Llc purchased 750,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $3.22 per share, for a total transaction of $2,415,000.00. Following the completion of the acquisition, the insider now owns 3,820,938 shares of the company’s stock, valued at approximately $12,303,420.36. This represents a 24.42 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Mark Cone acquired 38,104 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $3.88 per share, with a total value of $147,843.52. Following the completion of the purchase, the director now owns 160,829 shares of the company’s stock, valued at $624,016.52. This trade represents a 31.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 788,204 shares of company stock valued at $2,563,218 in the last ninety days. Company insiders own 13.90% of the company’s stock.

biote Profile

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.